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# Y# _2 q4 r2 X0 ^! Y* F+ F; V. vBelow is an Interesting article I found, which says that.....Do not
7 ]( l2 ]9 J6 X" }expect much from Crude Oil producers and future is not with the * m* }1 G1 [# U; q) F: W$ {; g
companies producing Jet fuels but Biofuels. Also no wonder if some of
! x1 i% S( Y2 q% Pthese oil producer will go bankrupt or out of the business even if
, M' I0 ~7 L" V1 x. m2 v3 q( ^# ?crude prices improves. This implies also to good names such as Shell, / f, d" M0 d& b- o y0 L
EXXON, BG, BP, Cheveron ....xyz.. oils / Y0 r( s: k7 N% T
( D" b' v# o; u& Q2 zRecently OPEC reduced crude oil production twice over just a few
, B5 i% C# _& emonths. There are three wars going on in Gaza, Iraq and Afghandistan. * z9 D8 U9 z) ?2 G" H' Z
A year ago these things would have spiked the price of crude oil by at
/ g* W, X8 K+ m0 b) k& y: M! Jleast $50.00 per barrel. Today, oil price declined by a record amount. ( n$ \- `- E, w9 }
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There are several reasons the price of oil is decreasing in the face + Y% J+ w O( ]* F7 Z- M) i! x) O
of so much news. These reasons are: : N* N- W- a" J
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1. New oil has been found in Canada, Montana, North & South Dakota and . _: }( W `- t( Y
in the ocean near Brazil. Each of these oil fields has more oil than
4 x: W8 a A. `2 j7 @. [! lArabia. $ t6 h/ N) l0 a- E! O& b
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2. New natural gas has been found in Pennsylvania and West Virginia.
7 h5 \3 Z; G# Q2 E; b1 pThis is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is 5 l1 @2 G) M- `7 V
being used to double their output. 7 |) v4 F3 i& e
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4. Production of bio-fuels is beginning to reach critical mass. Bio
$ m' Q( _- i, v$ e# vfuel is being produced from many plants and algae. The production
# @ O! z1 q. d' K) gpotential per acre in some cases is astounding. Many countries are ; X4 Q7 X* z9 |% C2 ^
racing to produce bio fuels. # s( o6 y3 t* E) U
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5. Virtually every restaurant in the US and all food processing plants 0 @1 y! n, V3 a# Y3 d9 E
are now selling their used oil to bio-diesel producers. Every pork, * d) H& c) ?' D6 w3 D
cattle, turkey and chicken processing plant will soon sell their fat
" f R3 h$ E/ Q; _4 Lto bio-diesel producers. One pork processing plant in Oklahoma is & J: C) j2 ?3 h6 X, E
producing 30,000 gallons of bio-diesel per day from pork fat.
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$ U1 ~) `$ @1 f1 E6. There are 99 nuclear reactors in various stages of planning and 3 u7 g3 \ } o: d! o
construction around the world at this time. Several hundred more are . e3 P0 z6 C1 @4 d+ m; J
expected to be built in the future. Much of the energy they produce
3 E/ Y9 D Q3 Dwill replace oil. , |" i. Y5 I6 C" N
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7. Every company in any form of transportaion business is replacing " F1 Y+ E4 r! r7 J
older equipment such as trucks, airplanes, train engines, ships, etc.
0 n _3 E4 s# X4 @3 Pwith new more fuel efficient equipment. Airlines and railway companies
6 f" Z k+ a" r" B4 |are experiencing 20% to 25% better fuel econony with the new
! S# ~5 K7 ?1 M% z2 Eequipment. 3 r C) B# z4 V9 F* `5 J9 J2 n
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+ v( W: t/ X* q$ r& q: i$ BAirlines are flying airplanes with bio-fuel. They are finding the bio- ' w& a7 p+ _" E9 a U }1 O
fuel is cleaner and performs better than jet fuel. . {/ k1 k6 j4 t. L2 z( j4 T" B
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8. Cities and counties throughout the US are selling the rights to
4 r [! q4 X4 dcapture methane gas from landfills. This is a huge source of gas 9 |% r9 C: z4 @1 ? J9 L! \
available at very little cost or risk. The gas is displacing crude
* ~! }1 r. S+ ]2 H/ poil. . V4 `1 M( x/ q3 E& f
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! U' G% u$ b; \9. Coal is being transformed into a clean burning liquid fuel. The CO2
! E S1 W2 r$ aproduced as a byproduct is sold to oil companies for injection into
$ M! T3 z5 }. x. ]+ L, v! N6 G4 p& z' qoil wells. 9 L* L0 G6 N+ S$ O1 H
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- i% c: o o8 b. }10. Solar, wind and ocean energy is displacing oil as an energy ' q" C2 i: d2 ^, d
source. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the
/ l l9 C3 P* a. P! D5 O3 Nprice of crude oil but the sum of all of them together is world + a7 W' R# K/ F7 i
changing. The important thing is that OPEC no longer has the ability
5 v) m2 w. A Q& e, F# m* |4 Bto control oil prices. 0 q3 Q5 C4 Q& L( E$ s6 O
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- C" Y+ |) L% u. wWith the above scenario, I still believe that there are under 0 t0 k- u; ~# t- Q; f3 {% h
performed OIL companies and probably they are yet to get the justified
, _( |* ^0 E$ o" K" _value .....
/ U, I3 y3 [! F- G- sIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN
- O+ f: j* j: l# a9 q2009 ... FYI-Only |
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